All Forum Posts by: Corey Reyment

@Daniel Gray shot you a message!

We are wholesalers in Green Bay! We have been wholesaling, fixing and flipping our own properties, and using the BRRRR strategy and teaching it to other investors for the past year. We have done over 20 successful transactions so far in 2017 and we are finding an influx of great deals in the Green Bay, Greenleaf, Howard, ashwaubenon, De Pere, Wrightstown, Suamico, and North Appleton areas! If you are an investor in the area, please reach out with your phone and emails so we can add you to our buyers list and let you know when we get a deal under contract! We have one right now that would make a great lease option, rent to own, rental, or just flip! We have another coming up that will be a great side by side duplex in a great area and several more close to signing! We do not spam and only use our buyers list to share the deals we have.

Awesome advice @Jay Hinrichs and @Account Closed. I appreciate it and I'm going to dive in to this deeper locally with the authorities! Thanks!!

@Account Closed's questions? Can you pay someone to help you market for distressed properties? If you are unlicensed, can you pay someone to bird dog for you to help you find distressed properties? 

So what I am hearing is if you are unlicensed, there really isnt any authority to say what you can or can not do. If you are licensed, its a big no no if the other person is unlicensed. Is that correct? 

Can you offer a finders fee to people who give you a lead that turns in to a deal? There are some real estate agents in our area threatened by us and other investors (even though we buy properties that are not retail ready) and they are saying we can not offer a finders fee or advertise a finders fee for leads. Is this accurate, what makes it illegal if so, and what are other creative ways to drum up the bird dogs? 

@Mike Taddy - thanks for your service and let us know when you are back on leave and maybe we can grab some coffee. We do some wholesaling in the area, flips, rentals, lending, etc. We started about a year ago and so far love it! We can share some things that have worked well for us and some things we might do differently. 

Comps between $120,000-$140,000. Was asking $89900 for the contract. Must close by this Friday! October 13th. 

Market rents in this area are $550-$650 per month. The current tenants are month to month so the rents could be increased. There are 4 electric meters so the utilities could be charged to tenants. Landlord currently pays water. 

Repairs needed - Will need a new roof. Estimates around $15-$18K. The electrical is the fuse panel style. The furnances are older but functioning per the seller. 

If the contract is not sold by Friday, the current owner plans to just keep the property. Don't miss out on this opportunity! We also know some great property managers in the area we can refer you to if you are an out of town investor! Call Corey at 920-639-3125 for more information and pictures! 

Hi Eric! I spoke with the seller this morning about the current tenants. It was hard to understand what exactly he was saying about the agreements he has. He is 87 and hard of hearing so I can certainly get copies of the agreements he has if you would like but it sounded like all 3 are month to month right now. 

Reason for selling, in his words, he is 87 and doesn't need the money. Looking to cash out and have some fun while he still can. He also owns another 20+ doors that still pay him nicely. He is going to sell it by October 13th or he is going to fix the roof himself and just hang on to it. 

Property has a lot of potential! It is currently extremely under rented and a great opportunity to increase your ROI for a great long term hold.

Need To Know

Here are some of the main things you will want to know

-Market rents are between $550-$650
-Currently getting $325-$425 per unit
-There are 4 units and 4 electrical meters so electric can be
billed to the tenants
-Total income should be between $2200 - $2600 per month
($26,400 - $31,200 annually)
-Has updated vinyl siding
-Detached 2 stall garage

Here are some of improvements the property will need:

-New roof will be needed - estimate $15,000-$18,000
contracted out, could be less if you wanted to do on your own
-Electrical is the fuse style. Needs updating if you were going
to get a mortgage in the future on it.
-Windows are older. They work fine but are not the updated
vinyl
-Furnaces are older. Currently working per the seller but new
buyer should budget for replacing the furnaces in the future
-Buyer will pay the closing costs (est. $1000-$1500)

This is a cash buyer only opportunity. The buyer must have the ability to close on or before October 13th. Proof of funds will be required before being admitted to the property. The price is the full price for the contract. It includes the purchase contract and our wholesale fee. Call Corey for the details - 920-639-3125